How to start your trading business

Many today are planning to open a small trading business. Creating your own store to sell interesting things looks like a really perfect plan. How can one successfully open this enterprise?

You will need

• - business plan;

• - license;

• - insurance;

• - equipment;

• - room.

Instruction manual

1

Take special courses at one of the universities or small business associations in your city to learn more about starting and managing a small business. The more you can learn before doing business, the better you will prepare yourself for possible difficulties.

2

Create your business plan to the smallest detail. Think over all its components: the location and financing of the store, as well as the products that you will sell. You must write a detailed business plan, and then submit it to the bank for consideration. If it is necessary to obtain a loan for a business, a perfectly balanced and accurate business plan should be drawn up.

3

Choose a name for the store and determine a location for it. It would be better to clarify in advance all the features of the selected area in order to understand which enterprises can be located in it and what conditions are needed for this.

4

Get all the necessary licenses and permissions to conduct your business, and then proceed to the construction of the store (or rent a room for it). You will also need to take out insurance and fill out a tax return. These steps can be dealt with more quickly if you seek help from the business associations in your area.

5

Hire staff after the bank accepts your business plan, obtains all necessary documents and resolves tax issues. Registration of employees should be carried out directly at the stage of entry into the work of your business.

6

Find a distributor and order the right amount of goods. First, stock up only on those products that are in great demand and can bring you initial profit.

7

Allocate funds to marketing. Tell the public what your store’s name is and where it is located.